vacancy rate
Definitions
The percentage of all available units in a rental property, such as a hotel or apartment complex, that are vacant or unoccupied at a particular time.
A measurement used in real estate and economics to indicate the proportion of commercial or residential space that is currently unleased or empty.
Examples
The city's high vacancy rate suggests that there is an oversupply of rental apartments in the downtown area.
Investors are closely monitoring the vacancy rate of the commercial office building before deciding whether to purchase the property.
Synonyms
unoccupied percentage empty unit ratio void rate available space percentage